Vehicle Power of Attorney

[tbass10]

What is the name of your state (only U.S. law)?North Carolina

I helped a friend get a vehicle by purchasing a truck and having it in my name but he makes the payments and pays the insurance. How do I make sure that if something happens to me that he will continue to keep the truck? Do I just write downs my wishes and get it notarized?? Or should he just try and get a loan for the truck. His credit is not that good.

Thanks,
Tracy BassWhat is the name of your state (only U.S. law)?

 

[Kiawah]

Get it out of your name as soon as possible. Guess you haven't figured out that if he gets tickets and doesn't pay them, you're on the hook. If he's in a accident, you get sued. If he looses his job and can't make the payment, you're liable for making the payments. Someone critically injured, you're liable.

I wouldn't be worried about something happening to you, and how does he end up with the truck. Be worried about all of the potentially life changing risk you have right now.